The Competition Act, 2002

An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto. The Monopolies and Restrictive Trade Practices Act, 1969 [MRTP Act] repealed and is replaced by the Competition Act, 2002, with effect from 01st September, 2009 [Notification Dated 28th August, 2009].

Notification No. S.O. 3714(E) dated 22.11.2017 relating to exemption to all cases of combinations under section 5 of the Act involving the CPSEs operating in the Oil and Gas Sectors under the Petroleum Act, 1934 and the rules made thereunder or under the Oilfields (Regulation and Development) Act, 1948 and the rules made thereunder, along with their wholly or partly owned subsidiaries operating in the Oil and Gas Sectors, from the application of the provisions of sections 5 & 6 of the Competition Act, 2002

Exemptions to all cases of reconstitution, transfer of the whole or any part thereof and amalgamation of nationalzed banks, under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), from the application of provisions of Sections 5 and 6 of the Competition Act, 2002

Notification No. S.O. 2561(E) dated 10.08.2017 relating to exemption of Regional Rural Banks in respect of which the Central Government has issued a notification under sub-section (1) of section 23A of the Regional Rural Banks Act, 1976 from the application of provisions of section 5 and 6 of the Competition Act, 2002

Notification No. S.O. 2039(E) dated 29.06.2017 relating to exemption of every person or enterprise referred to in section 5 of the Competition Act, 2002 from giving notice within thirty days mentioned in sub-section (2) of section 6 of the Competition Act, 2002 under clause (a) of section 54 of the said Act

The Central Government, in public interest, hereby exempts the ‘Group’ exercising less than fifty per cent of voting rights in other enterprises from the provisions of section 5 of the Competition Act, 2002 for a period of five years

The Central Government, in public interest, hereby Exempts an enterprise, whose control, shares, voting rights or assets are being acquired has assets of the value of not more than Rs.250 crores or turnover of not more than Rs. 750 crores from the provisions of Section 5 of the Competition Act, 2002 for a period of five years